Lightning eMotors, Inc.
ZEV-WT
New York Stock Exchange0.02
USD
+0.00
- -
Lightning eMotors, Inc.
ZEV-WT
(New York Stock Exchange)
Recent
price
0.02
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- Lightning eMotors, Inc., founded in 2008 and previously trading under the ticker ZEVY, operated as a designer and manufacturer of zero-emission commercial vehicles and advanced electric vehicle (EV) technology solutions for various fleets. Headquartered in Loveland, Colorado, the company specialized in providing comprehensive electrification for medium-duty to heavy-duty commercial vehicles, encompassing Class 3 through Class 7. Their product portfolio included a range of all-electric cargo and passenger vans, ambulances, shuttle buses, school buses, work trucks, city buses, and motor coaches. Additionally, Lightning eMotors developed and supplied electric powertrains for integration into Original Equipment Manufacturer (OEM) chassis and offered conversion services to electrify existing internal combustion engine vehicles. Beyond vehicle manufacturing, the company provided an integrated suite of supporting solutions for fleet operators. This included charging infrastructure and services, such as "Charging as a Service" (CaaS), along with sophisticated telematics and analytics platforms like Lightning Insights, designed to optimize fleet planning, monitor real-time vehicle performance, energy consumption, and facilitate preventative maintenance. The target market primarily consisted of commercial fleets, large enterprises, government entities, and OEMs seeking to transition to sustainable transportation, driven by the desire to reduce greenhouse gas emissions, lower operational costs, and enhance energy efficiency. Revenue was generated through direct sales of electric vehicles and powertrains, as well as by providing charging solutions and recurring service and maintenance contracts. In recent years, Lightning eMotors had forged strategic partnerships, notably with General Motors to electrify their medium-duty truck platforms and with Blue Bird Corporation for electric school bus chassis, aiming to expand its market reach and product diversification. The company also explored international opportunities, entering into an agreement with Ricardo to deploy electric commercial vehicles in the United Kingdom. However, in a significant development announced in January 2024, Lightning eMotors revealed an Asset Purchase Agreement to sell substantially all of its assets for $12.6 million, subject to court approval. This strategic shift indicated a winding down of the company's prior business operations, with the acquiring party not intending to continue the existing business of selling and servicing zero-emission vehicles. Subsequent reports further confirmed that Gillig acquired assets from Lightning eMotors and hired former engineering staff. This followed a period of financial challenges, including a NYSE delisting and an approved $2.3 million settlement in a derivative lawsuit challenging the company's 2021 SPAC merger, alongside a larger $13.35 million settlement with investors regarding alleged overstatement of financial prospects. As a result, shareholders were not anticipated to receive distributions from the asset sale.